The Board’s role in strategic planning explained by Jean-Daniel Brisson

29 Jul 2015

Jean-Daniel-Brisson, Lead Senior Director at Raymond Chabot Grant Thornton, recently contributed to an article on the role of the Board of Directors in strategic planning. The article was published in the electronic newsletter BI Boardroom Insider. This American publication offers monthly advice on corporate governance.

“Boards are increasingly involved in drafting strategic plans”, explains Jean-Daniel Brisson, who is delighted that they no longer limit themselves to an approver role. The expert makes several recommendations, including increasing the time devoted to drafting and follow-up of the strategic plan. “We draft a strategic plan and we discuss it once a year… but what is happening on a quarterly basis?” he asks.

To find the other tips offered by Jean-Daniel Brisson, see the article on The Board and Strategic Planning in the July 2015 edition of the electronic newsletter BI Boardroom Insider (p. 2-3).

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Lynda Coache takes part in “La petite séduction” with Danièle Henkel

23 Jul 2015

Lynda Coache, Assurance Partner at Raymond Chabot Grant Thornton, was chosen to represent the strong women of the Saint-Cyprien de Napierville community for La petite séduction. This show featured businesswoman and famous “dragon”, Danièle Henkel.

A native of Saint-Cyprien de Napierville, Lynda Coache shared her passion for this town and its region, where she practices her profession and manages two Raymond Chabot Grant Thornton offices (Saint-Jean sur Richelieu, Napierville). She also looked back on her personal and professional path, which has several points in common with that of Ms. Henkel.

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Good debts, bad debts: how to tell the difference?

In an interview on the Argent channel, Trustee Partner and Financial Recovery Advisor Éric Lebel shed light on the question of indebtedness in Quebec. He also offered some tips for smart borrowing.

Quebec household debt: should we be alarmed?

The figures show that Quebecers are increasingly in debt. The CROP survey entitled Les Québécois et les finances personnelles (Quebecers and personal finances), commissioned by Raymond Chabot Grant Thornton, reveals that 56% of Quebecers saw their debt increase over the past three years. However, for Éric Lebel, the increase in household debt is less alarming than it appears. “It’s normal that people have more debt because they have more assets,” he says.

The real problem isn’t debt, but overindebtedness, Éric Lebel explains. “Quebec has a population of 8.2 million, with 41,000 financial problem cases. Ontario has a population of 13.5 million but also has 41,000 cases (…) this is cause for concern. ”

Knowing the difference between good and bad debts

“A large portion of household debt comes from mortgages,” Éric Lebel explains. “There are also a lot of consumer loans,” he adds. According to a recent study published by BMO and cited by Mr. Lebel, one out of three Canadians regrets they are unable to control their useless and spontaneous spending. “Many Canadians who want to improve their financial position don’t know where to begin,” he explains.

Knowing the difference between good and bad debts is essential, according to Éric Lebel. The expert suggests accounting for several criteria when contracting a loan. “You must look at the interest rate and the term of the loan, and ask whether you have the budget to do this,” he explains. During the interview, Eric Lebel gives several concrete examples for a better understanding of the subtle distinctions between good and bad debts.

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In an article in the newspaper Finance et Investissement addressing the tax risks of foreign diversification, Tax Partner Renée Gladu explains that it is possible to recover withholding taxes on investment income earned in the United States, for example. The withholding tax is 30% in principle, but under the Canada-United States Income Tax Convention, this rate is reduced to 15% for dividends.

“The tax withheld can be deducted from taxes paid in Canada.” Ms. Gladu indicates that this credit very often will be claimed on the investor’s federal income tax return. “For example, if a taxpayer earns between $43,953 and $87,902 at a federal marginal tax rate of 18.4%, he will therefore use his entire 15% federal credit,” Ms. Gladu points out.